India-Japan ties anchor vital trade, investment dimensions: Piyush Goyal

New Delhi [India], July 2 (ANI): The India-Japan relationship has both trade and investment dimensions, said Union Minister of Commerce and Industry Piyush Goyal. He mentioned that this comprehensive strategic partnership continues to expand across critical infrastructure, trade baskets, and high-technology sectors like semiconductors.
Speaking at the Indo-Japan Strategic Dialogue hosted by NDTV on Thursday, Goyal highlighted that the bilateral engagement witnessed a significant increase following a reset into a comprehensive strategic partnership. This momentum gained further traction after the 15th Japan-India Summit, where Japan committed to investing 100 trillion yen, equivalent to approximately USD 65-70 billion, across various Indian sectors, infrastructure, and industry.
Japan's bilateral trade with India totaled USD 27.47 billion during FY 2025-26. Exports from Japan to India during this period were USD 21.43 billion, and imports were USD 6.04 billion.
Today, India ranks 14th in Japan's total trade with a 1.75 per cent share, while Japan ranks 10th in India's total trade with a 2.26 per cent share.
India ranks 8th in Japan's total exports with a 2.61 per cent share, and Japan ranks 21st in India's total exports with a 1.37 per cent share. India ranks 22nd in Japan's total imports with a 0.98 per cent share, and Japan ranks 10th in India's total imports with a 2.76 per cent share.
Addressing the trade dynamic, Goyal explained that the partnership relies on complementary strengths. India imports technology-driven products from Japan, while exporting high-quality, precision-engineered materials, auto components, and electronic components.
"What we sell to Japan are also value-added products. We are not selling raw materials or intermediates," Goyal stated.
India's primary exports to Japan are Organic Chemicals, Vehicles (Other than railways & trams), Nuclear Reactor, Aluminium and Articles thereof, Fish & other aquatic invertebrates.
India's primary imports from Japan are nuclear reactors, copper and articles thereof, electrical machinery and equipment, inorganic chemicals and iron and steel.
The partnership also extends to regional development, notably through India's Act East policy. Goyal described the Northeast region as a natural gateway for trade with the ASEAN region due to its geographical proximity and talented workforce.
He noted that joint efforts by India and Japan to promote industry and infrastructure in the Northeast align with the government's commitment to equitable development across all regions.
Furthermore, Goyal discussed the success of India's semiconductor mission, which now includes almost 12 major initiatives. He noted that global companies recognize Indian talent, given that Indians comprise nearly 20 per cent of design engineers in the semiconductor field.
According to the Minister, Japan is among the friendly nations keen to see India integrate into the global semiconductor supply chain, supported by an existing USD 100 billion domestic semiconductor market.
The Minister noted that Japan's historical economic engagement with India focused largely around investments. He cited the transformative impact of Maruti Suzuki, which entered the Indian market nearly 40 years ago and introduced modern, affordable, technology-driven automobiles, ultimately positioning India to become a global power in the automotive sector.
"Just reading the figures for last month, Maruti Suzuki has 147,000 car share out of 400,000 passenger vehicles sold in India in the month of May," Goyal added, emphasizing the company's substantial role in specific industry segments.
The dialogue also touched upon human capital and the services sector, particularly Japan's requirement for highly skilled caregivers. Goyal emphasized the necessity of language and cultural training to secure these high-paying opportunities. He shared that his own skill development center in Mumbai runs classes on Japanese language and culture to help students secure employment in Japan.
"Japan-India relation has been a relationship of trust, a very comprehensive relationship where we have over the years, ever since the time of Prime Minister Shinzo Abe-san, Prime Minister Modi has been building and nurturing this relationship," Goyal said. (ANI)